New housing projects in the first 10 months of this year totaled more than NT$980 billion (US$31.44 billion) in northern Taiwan, with presale projects accounting for 85.5 percent, unfazed by legislative efforts to ban their resale, My Housing Monthly (住展雜誌) reported.
Increasing building material prices and labor shortages have prompted developers to slow construction on housing projects and delay their entry to the market, which would further widen the gap, the Chinese-language magazine said.
“Presale projects continue to dominate the new housing market one year after the introduction of bills to ban resale of presale contracts,” magazine research manager Chen Tsai-chi (成采錡) said.
Photo: Hsu Yi-ping, Taipei Times
The bills are intended to cool the property market, as housing prices have soared throughout Taiwan in the past two years on the back of an economic boom and firms shifting manufacturing facilities home from China amid US-China trade tensions, Chen said.
However, the legislature has not made any progress on the bills and might not pursue the efforts in the coming months as an economic slowdown and monetary tightening dampen buying interest, Chen said.
As of last month, presale projects in northern Taiwan totaled NT$844.5 billion, leaving newly completed houses a small share of 14.5 percent, or NT$143 billion, the magazine said.
The Hsinchu area has the lowest ratio of newly completed houses, at 3 percent, or NT$4.17 billion versus presale projects at NT$140 billion, as strong demand amid limited supply left buyers no choice but to target presale projects, it said.
Developers have aggressively launched presale projects in Hsinchu to meet fast-growing demand from cash-flush technology engineers, it added.
Newly completed houses account for 10.8 percent of the market in Taoyuan, which has a total volume of NT$285.1 billion, it said.
In Taipei, presale projects totaled NT$205.3 billion in the first 10 months, while newly completed houses rose 6.2 percentage points to NT$44.24 billion, or a 21.5 percent market share, due to the release of a luxury residential complex in Zhongzheng District (中正), it said.
Newly completed houses totaled NT$57.4 billion, or 17.9 percent of the NT$320 billion new housing market in New Taipei City, it said, adding that the ratio fell 3.4 percentage points from a year earlier.
Newly completed houses shed 11 percentage points to 16.8 percent in Yilan County, while dropping 9.1 percentage points to 18.1 percent in Keelung, it said.
The difference between presale projects and newly completed houses is expected to grow, as developers and builders postpone construction to cope with rising costs, a practice that would shrink the pool of newly completed houses, Chen said.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS